1509 Lafayette Ave Mattoon, IL 61938
Estimated payment $622/month
Highlights
- Ductless Heating Or Cooling System
- Forced Air Heating System
- 2-minute walk to Friendship Garden
About This Home
Investor’s Opportunity – Updated Tri-Plex with Major Renovations Complete! This tri-plex investment property offers an incredible opportunity for income generation with three distinct units — a spacious 3-bedroom, 2-bathroom unit, a 2-bedroom, 1-bathroom unit, and a 1-bedroom, 1-bathroom unit. Each unit includes convenient washer and dryer hookups, appealing to long-term tenants and owner-occupants alike. One unit is fully finished, while the remaining two are under construction, allowing you to complete them to your own specifications and increase rental income potential. The heavy lifting has already been done — this property features a new roof, new windows, new heating and air systems, updated electrical, and new plumbing throughout. Perfect for investors looking for a project with strong upside potential, this property combines modern updates, multiple income streams, and tremendous long-term value.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,075
Year Built
- Built in 1891
Home Design
- Triplex
- Shingle Roof
- Asphalt Roof
Utilities
- Ductless Heating Or Cooling System
- Forced Air Heating System
- Heating System Uses Gas
- Gas Water Heater
Additional Features
- 2-Story Property
- 10,454 Sq Ft Lot
Community Details
- 3 Units
Listing and Financial Details
- Assessor Parcel Number 07-1-05988-000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,075 | $24,413 | $4,772 | $19,641 |
| 2023 | $1,928 | $21,798 | $4,261 | $17,537 |
| 2022 | $1,876 | $21,438 | $4,191 | $17,247 |
| 2021 | $1,881 | $19,692 | $3,919 | $15,773 |
| 2020 | $1,861 | $20,402 | $4,060 | $16,342 |
| 2019 | $1,831 | $19,692 | $3,919 | $15,773 |
| 2018 | $1,829 | $20,000 | $3,919 | $16,081 |
| 2017 | $1,823 | $20,000 | $3,919 | $16,081 |
| 2016 | $1,786 | $20,000 | $3,919 | $16,081 |
| 2015 | $1,765 | $20,000 | $3,919 | $16,081 |
| 2014 | $1,765 | $20,000 | $3,919 | $16,081 |
| 2013 | $1,765 | $20,000 | $3,919 | $16,081 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/31/2025 10/31/25 | Pending | -- | -- | -- |
| 10/26/2025 10/26/25 | For Sale | $85,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $42,000 | -- |
Source: Central Illinois Board of REALTORS®
MLS Number: 6255823
APN: 07-1-05988-000
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